Man Group plc Decreases Stock Holdings in Incyte Co. (NASDAQ:INCY)

Man Group plc cut its holdings in Incyte Co. (NASDAQ:INCY - Free Report) by 9.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 729,037 shares of the biopharmaceutical company's stock after selling 75,915 shares during the quarter. Man Group plc owned about 0.38% of Incyte worth $50,355,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of INCY. Wells Fargo & Company MN boosted its holdings in shares of Incyte by 61.3% in the fourth quarter. Wells Fargo & Company MN now owns 174,190 shares of the biopharmaceutical company's stock valued at $12,031,000 after acquiring an additional 66,220 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of Incyte by 13.5% in the fourth quarter. JPMorgan Chase & Co. now owns 323,640 shares of the biopharmaceutical company's stock valued at $22,354,000 after acquiring an additional 38,550 shares in the last quarter. SG Americas Securities LLC boosted its holdings in shares of Incyte by 262.2% in the fourth quarter. SG Americas Securities LLC now owns 99,407 shares of the biopharmaceutical company's stock valued at $6,866,000 after acquiring an additional 71,963 shares in the last quarter. Pictet Asset Management Holding SA boosted its holdings in shares of Incyte by 73.4% in the fourth quarter. Pictet Asset Management Holding SA now owns 1,313,873 shares of the biopharmaceutical company's stock valued at $90,749,000 after acquiring an additional 556,218 shares in the last quarter. Finally, Tandem Financial LLC purchased a new stake in shares of Incyte in the fourth quarter valued at about $358,000. 96.97% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, EVP Sheila A. Denton sold 599 shares of the business's stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $69.99, for a total value of $41,924.01. Following the completion of the transaction, the executive vice president now owns 25,848 shares of the company's stock, valued at $1,809,101.52. The trade was a 2.26% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Barry P. Flannelly sold 19,807 shares of the business's stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $67.69, for a total transaction of $1,340,735.83. Following the completion of the transaction, the executive vice president now directly owns 33,567 shares of the company's stock, valued at approximately $2,272,150.23. This represents a 37.11% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 34,475 shares of company stock valued at $2,424,751 over the last 90 days. Insiders own 17.80% of the company's stock.

Incyte Price Performance

INCY traded up $0.55 during midday trading on Friday, reaching $63.31. 1,330,051 shares of the company's stock were exchanged, compared to its average volume of 2,324,761. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.97 and a quick ratio of 1.94. The stock has a market capitalization of $12.25 billion, a PE ratio of 234.49, a P/E/G ratio of 0.41 and a beta of 0.68. The business's 50-day moving average price is $60.49 and its 200 day moving average price is $68.43. Incyte Co. has a 1-year low of $53.56 and a 1-year high of $83.95.

Incyte (NASDAQ:INCY - Get Free Report) last announced its earnings results on Tuesday, April 29th. The biopharmaceutical company reported $1.16 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.01 by $0.15. The company had revenue of $1.05 billion during the quarter, compared to analysts' expectations of $996.17 million. Incyte had a net margin of 0.77% and a return on equity of 0.05%. The firm's quarterly revenue was up 19.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.64 earnings per share. As a group, equities analysts anticipate that Incyte Co. will post 4.86 EPS for the current fiscal year.

Analyst Ratings Changes

INCY has been the topic of several analyst reports. Wells Fargo & Company lifted their target price on shares of Incyte from $58.00 to $59.00 and gave the company an "equal weight" rating in a report on Wednesday, April 30th. Citigroup lowered their target price on shares of Incyte from $97.00 to $88.00 and set a "buy" rating on the stock in a report on Tuesday, February 11th. JMP Securities reissued a "market perform" rating on shares of Incyte in a report on Tuesday, February 11th. William Blair downgraded shares of Incyte from an "outperform" rating to a "market perform" rating in a report on Tuesday, March 18th. Finally, Royal Bank of Canada boosted their price objective on shares of Incyte from $64.00 to $67.00 and gave the stock a "sector perform" rating in a report on Wednesday, April 30th. One analyst has rated the stock with a sell rating, thirteen have given a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Incyte presently has a consensus rating of "Hold" and an average price target of $73.53.

Incyte Company Profile

Incyte Corporation, a biopharmaceutical company, engages in the discovery, development, and commercialization of therapeutics for hematology/oncology, and inflammation and autoimmunity areas in the United States and internationally. The company offers JAKAFI (ruxolitinib) for treatment of intermediate or high-risk myelofibrosis, polycythemia vera, and steroid-refractory acute graft-versus-host disease; MONJUVI (tafasitamab-cxix)/MINJUVI (tafasitamab) for relapsed or refractory diffuse large B-cell lymphoma; PEMAZYRE (pemigatinib), a fibroblast growth factor receptor kinase inhibitor that act as oncogenic drivers in liquid and solid tumor types; ICLUSIG (ponatinib) to treat chronic myeloid leukemia and Philadelphia-chromosome positive acute lymphoblastic leukemia; and ZYNYZ (retifanlimab-dlwr) to treat adults with metastatic or recurrent locally advanced Merkel cell carcinoma, as well as OPZELURA cream for treatment of atopic dermatitis.